One of the better-known phrases in real estate goes ‘Location, Location, Location‘. Originally meant to emphasize the importance of a good physical location in the real estate market, this phrase is increasingly being applied to the marketing platforms of real estate market too. Traditional marketing efforts are targeted for the local markets; real estate consultants would generally have limited areas of operation, other than the big players present statewide or nationwide.
As technology progressed in the last decade or so, it made life better in a lot of ways. Of course, there was also a corresponding increase in the competition and thus, the scope of marketing, This is especially relevant to the Indian real estate market. The Indian real estate sector is usually considered unorganized, and relied heavily on the traditional routes of marketing such as local advertisements, word-of-mouth, networking, and others.
Online Marketing in Indian Real Estate
However, these marketing methods are no longer relevant. The market has become much more discerning, and the growing competition has tilted the balance in favor of the consumers rather than the sellers and consultants. The consultants then turned to technology to address these issues, and to ensure a much more customer-centric service. Apart from technological solutions to the everyday running of the organization, marketing itself started leaning heavily towards the online marketplace. Starting with simple property portals and websites to evolved marketing strategies for real estate such as targeting marketing and remarketing, the online marketplace has consistently grown in the past few years. The reality of the market is that as the consumers become internet savvy, their methods of looking for real estate is increasingly becoming internet-based. The sellers also had to move to the virtual platforms and hence, the growth of internet marketing.
The present scenario suggests that it is almost impossible for real estate consultants to grow without the aid of online marketing. The potential advantages of marketing are several; and judging by the ease with which all the important players in the market have taken it up, it is safe to say that online marketing is here to stay.